The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising EV demand is likely to encourage innovation in automotive brake pad manufacturing, propelling the market during the forecast period.

The global automotive brake pads market is expected to grow from $7.74 billion in 2022 to $8.26 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The global automotive brake pads market size is expected to reach $10.52 billion in 2027 at a CAGR of 6.2%.

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Global Automotive Brake Pads Market Segments Includes

• By Material Type: Semi-Metallic, Non-Asbestos Organic (NAO), Low-Metallic, Ceramic
• By Position Type: Front, Front And Rear
• By Vehicle: Two Wheelers, Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
• By Sales: Original Equipment Manufacturer, Aftermarket
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global automotive brake pads market in 2021.

Major Market Players in the automotive brake pads market include ACDelco, Akebono Brake Industry Co. Ltd., Allied-Nippon Limited, ATE Bosch Auto Parts, Brakes India Pvt. Ltd., Brakewel Automotive Components India Pvt. Ltd., G.U.D Holdings.

Product innovation is a prevalent trend in the automobile brake pad market. Major vehicle brake pad makers are focusing on providing innovative solutions to strengthen their market position. For example, Brakes India Pvt Ltd, an Indian-based company, launched ZAP brake pads in March 2023, which are integrated with superior friction technology for usage in electric vehicles. These brakes provide great stopping power and are designed specifically for battery-electric vehicles that meet environmental safety and sustainability criteria.

The Automotive Brake Pads Global Market Report 2023  provides a automotive brake pads market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive brake pads market forecast analyzes automotive brake pads market size, automotive brake pads market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Automotive brake pads are a vital component of braking systems that are specifically utilised in automotive and related applications to provide the friction required to bring the vehicle to a halt. Brake pads are critical and delicate components of a vehicle’s braking system.

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